It looks like Monday was the wrong time for online advertising company DoubleClick (Nasdaq: DCLK) to announce a major deal.
Shares of Doubleclick were hit especially hard after the company announced a $1 billion deal to purchase market research company Abacus Direct (Nasdaq: ABDR). Doubleclick stock fell more than 20 percent, dropping 18-1/16 to 70-3/4. Abacus Direct stock also fell hard, dropping 7-1/16 to 67-1/2.
The deal could actually be a good one because it should increase Doubleclick’s leadership position in online advertising, but it’s probably best to stay on the sidelines until Internet stocks start settling down.